Study On The Influence Of The City Facilities On The House Price Based On Hedonic Price Model

The formation mechanism of city housing price has been the focus of academicresearch. city communal facilities has s positive impact on the housing price. About theaffet from the communal facilities on the housing price, academic put the focus on thequalitative research and be lack of quantitatice research. This paper collect the datainWuhan,and buiding the hedonic price model which has important theoretical andpractical significance.Firstly, this paper analysis the housing characteristics, the housing price’s nature,andthe related affect factor. Then, the paper has a futher researth about the aommunalfacilities.Last,the paper summarizes the impact pathway about the communal facilities onhousing price.Secondly, this paper introduce the hedonic piece model.Such as theoreticalbasis,relevant variables,formation of the model,estimation of the model and the testing ofthe model.Thirdly, this paper study the influence about communal facilities on housing pricefrom three point though the collected data.At the accsssibility point, the significant effect of variables are distance to CBD,distance to the nearest office facilities, distance to he nearest park, distance to the nearestuniversity, distance to the nearest administrative center,distance to the neatest culturalfacilities,distance to the nearest sport facilities, distance to the nearest lake and river.At the facilities density point, the significant effect of variables are distance to theCBD,density of the commercial facilities, density of cultural facilities, whetherdemonstration school within1000M, density of office facilities,density of the park.At the difference in location point, through the study, at the different locationconditions, the influence of the communal facilities has a different significance on housingprice.